Wellington Management Group LLP Has $3.53 Billion Stock Position in Cardinal Health, Inc. $CAH

Wellington Management Group LLP increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 247.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,860,271 shares of the company’s stock after acquiring an additional 10,584,119 shares during the period. Cardinal Health comprises approximately 0.6% of Wellington Management Group LLP’s investment portfolio, making the stock its 24th largest holding. Wellington Management Group LLP owned 0.06% of Cardinal Health worth $3,530,206,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CAH. BlackRock Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter worth approximately $6,293,115,000. State Street Corp raised its stake in shares of Cardinal Health by 1.8% during the 4th quarter. State Street Corp now owns 12,509,230 shares of the company’s stock worth $2,570,647,000 after purchasing an additional 221,497 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cardinal Health by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 6,529,013 shares of the company’s stock valued at $1,336,750,000 after buying an additional 43,924 shares during the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $790,344,000. Finally, Bank of America Corp DE grew its stake in shares of Cardinal Health by 3.2% in the third quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock valued at $563,922,000 after buying an additional 111,582 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Down 0.2%

Shares of NYSE:CAH opened at $234.72 on Friday. Cardinal Health, Inc. has a 12-month low of $145.87 and a 12-month high of $258.30. The stock has a market cap of $54.59 billion, a PE ratio of 32.46, a P/E/G ratio of 1.41 and a beta of 0.49. The business has a 50 day moving average of $233.10 and a 200-day moving average of $218.42.

Cardinal Health (NYSE:CAH) last announced its earnings results on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. The company had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Equities research analysts expect that Cardinal Health, Inc. will post 12.55 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be issued a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio is currently 28.49%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 4th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Morgan Stanley upped their target price on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Mizuho raised their target price on shares of Cardinal Health from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Sixteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $266.56.

Insider Activity

In other news, CEO Deborah Weitzman sold 7,354 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $235.45, for a total value of $1,731,499.30. Following the completion of the sale, the chief executive officer owned 77,901 shares of the company’s stock, valued at approximately $18,341,790.45. The trade was a 8.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen M. Mason sold 35,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the transaction, the chief executive officer owned 18,061 shares in the company, valued at $4,269,620.40. This trade represents a 65.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 210,271 shares of company stock worth $49,626,657. Corporate insiders own 0.12% of the company’s stock.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.